State Street Corporation $STT Shares Bought by Sienna Gestion

Sienna Gestion grew its stake in shares of State Street Corporation (NYSE:STT) by 4.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 123,671 shares of the asset manager’s stock after purchasing an additional 5,416 shares during the quarter. State Street makes up about 1.0% of Sienna Gestion’s holdings, making the stock its 23rd largest position. Sienna Gestion’s holdings in State Street were worth $16,039,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC acquired a new position in State Street during the 4th quarter worth $29,000. JPL Wealth Management LLC acquired a new position in State Street during the 3rd quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new position in State Street during the 3rd quarter worth $35,000. Ameriflex Group Inc. boosted its holdings in shares of State Street by 102.5% in the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock valued at $37,000 after buying an additional 161 shares during the period. Finally, Board of the Pension Protection Fund acquired a new position in shares of State Street in the 4th quarter valued at about $39,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Down 0.2%

Shares of NYSE:STT opened at $167.29 on Tuesday. The company has a market cap of $46.30 billion, a PE ratio of 16.97, a P/E/G ratio of 0.92 and a beta of 1.43. The company’s 50-day moving average price is $151.60 and its 200 day moving average price is $135.93. State Street Corporation has a fifty-two week low of $96.16 and a fifty-two week high of $170.54. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm posted $2.04 EPS. State Street’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, July 1st. State Street’s payout ratio is 34.08%.

Insider Activity at State Street

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the sale, the chief operating officer directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total transaction of $243,210.00. Following the sale, the executive vice president owned 41,827 shares in the company, valued at $6,781,829.78. This trade represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,876 shares of company stock valued at $5,866,583 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STT shares. The Goldman Sachs Group lifted their price target on shares of State Street from $152.00 to $168.00 and gave the company a “buy” rating in a report on Monday, April 20th. Evercore set a $158.00 price target on shares of State Street and gave the company an “outperform” rating in a report on Monday, April 20th. Truist Financial lifted their price target on shares of State Street from $136.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 20th. Wells Fargo & Company lifted their price target on shares of State Street from $162.00 to $171.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada lifted their price target on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average price target of $158.57.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.